VANCOUVER, British Columbia, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (“REEs”) that drive the critical technologies of the future, is pleased to provide a summary of recent activities at its Peak Project in west Texas, and its Lac Ducharme property located in Quebec, Canada.
Since listing, Tactical Resources has completed significant work programmes and development efforts across both the Peak and Lac Ducharme projects. To further support the planned activity outlined herein, the Company has augmented its treasury through the receipt of $1.38M from the exercise of outstanding warrants. These funds are allocated for additional field and metallurgy work, general corporate purposes, and strategic marketing to build awareness regarding the Company’s efforts and potential opportunities.
Texas REE Peak Project
As part of the company’s strategic plan to complete a NI 43-101 report on the Peak Project, Tactical Resources has completed field sample collection, and initial metallurgical testing is currently in-progress through its engagements with Kemetco Research Inc. and Turnstone Metallurgical Services. This initial phase of test work is aimed at assessing direct leach amenability, evaluating maximum extraction potential, and consists of the following scope:
- Geometallurgical characterization, rare earth element assaying, and multi-element assaying
- Bottle roll leach testing, and agitated tank leach testing
- Pre-treatment, and water leach testing
- Test matrix includes investigating the following parameters:
- Lixiviant type
- Lixiviant concentration
- Leach time
- Temperature
Results from this initial phase of metallurgical testing are expected to be complete in Q3-2022 and will be included in the 43-101 technical report currently being written for the Peak Project.
Tactical Resources is also actively developing an integrated project development work plan as a part its overarching commercialization strategy.
Tactical Resources initiated a mineralogical program at the University of Texas, Austin to obtain a better understanding of the mineralogy and chemistry that constitutes the Peak tailing’s material to feed back into the metallurgy plan. Backscattered electron gigapan images and energy-dispersive X-ray spectra experiments were conducted on 4 samples with initial results that yielded common accessory minerals including cassiterite (SnO2), columbite (Fe2+Nb2O6), yttrofluorite (Ca0.7Y0.3F2.3), yttrocerite (CaF2+ (Y,Ce)F3), thorite ((Th,U)SiO4), and zircon (ZrSiO4).
In 2022, Tactical Resources commissioned Frank X. Spencer and Associates, a full-service Civil Engineering and Survey company to conduct two unmanned aerial vehicles, or drone surveys on the active tailings pile area at the Sierra Blanca Quarry. The first drone survey was intended to assess the volume of tailings in the active tailings pile of the Sierra Blanca Quarry. The second drone survey was intended to assess the monthly volume of tailings material being added to the active tailings pile.
The company recently signed an amended agreement with Sierra Blanca Quarry, LLC to strengthen the terms of the existing off take agreement and to allow Tactical Resources the exclusive option to acquire the entire project area. This amended agreement opens the pathway to the potential of a more significant investment in the Peak Project.
Quebec REE Lac Ducharme Project
Building on the Lac Ducharme N.I. 43-101 report, a prospecting program was conducted centered over the two previous REE pegmatite showings on the property. This field work was aided by scintillometers and a spectrometer that were utilized due to the radioactivity and the parallel between REE and thorium content. The locations with the highest radioactivity were prioritized as prime targets for the subsequent backpack drilling which was completed during the 2021 field season. Full details of this work program and the results obtained can be found in the report filed here with Ministère de l'Énergie et des Ressources naturelles of Quebec.
Additionally, a geophysical survey was performed on the Lac Ducharme Property in the summer of 2022 and consisted of a magnetometer and radiometric program over the two historic showings on the property. The purpose of this workplan is to gain a better spatial understanding of the structural geology, lithologic units and to have a more comprehensive understanding of the pegmatite size and orientation.
The information above is preliminary as the work programs are ongoing and as such represents a snapshot of work undertaken to-date with additional data and results forthcoming as soon as the various reports have been finalized.
Company CEO, Ranjeet Sundher, notes, “I am pleased with the progress of our technical teams to-date, and I look forward to receiving the results of these work programs. We are on-track to accomplish our first-year work program goals. We have multiple efforts underway, and as results are compiled this information steers our decision-making as to where additional investments will be made to best manage our ongoing and future activities. So far, the overall data at both properties appears to be favourable and we anticipate moving ahead based on our original planning. We look forward to sharing results as they become available and in moving these projects forward towards an asset valuation with commensurate strategic actions for future development.”
The Company also announces that it has engaged TD Media LLC dba Life Water Media (“LWM”), an arm’s length parties to the Company, to provide digital marketing services to the Company for 30 days commencing on approximately August 29, 2022. In consideration for providing the services, the Company has agreed to pay to LWM US$100,000. Consideration offered to LWM does not include any securities of the Company. Aside from this engagement, the Company does not have any relationship with LWM.
The principal of LWM is David Pena LWM’s business address is located at 10018 Spanish Isles Blvd Ste 5, Boca Raton, FL 33498, email is info@lifewatermedia.com, telephone number is 561-203-0779 and website is www.lifewatermedia.com.
On Behalf of The Board of Directors,
Sincerely,
~Ranjeet Sundher~
Ranjeet Sundher
Chief Executive Officer & Director
Tactical Resources Corp.
www.tacticalresources.com
Notes
About Tactical Resources Corp. (CSE: RARE) (OTC: USREF)
Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, British Columbia, and holds interests at the Peak Project in western Texas, the Lac Ducharme property located in Quebec, and the SAM property in Northern Saskatchewan. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the services to be provided by Mr. Michel, the Company’s ramp up to production at the Peak Project and the timing thereof.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, the use of proceeds from the exercise of warrants of the Company, the expected timing for completion of the NI 43-101 report for the Peak Project, the announcement of the results of the work programs at the Lac Ducharme property, and the services to be performed by LWM .
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s long form prospectus dated February 28, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Tactical Resources Corp.
Investor Relations
Email: investors@tacticalresources.com
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068
Email: info@tacticalresources.com
Media Inquiries
media@tacticalresources.com
